Russell Investments Group Ltd. Sells 116,845 Shares of Exelixis, Inc. $EXEL

Key Points

• Russell Investments Group Ltd. reduced its stake in Exelixis, Inc. by 16.1%, selling 116,845 shares and leaving it with a total of 609,123 shares valued at approximately $22.47 million.
• Exelixis reported earnings of $0.75 per share for the last quarter, exceeding analysts' expectations by $0.12, despite revenues falling short at $568.26 million.
• Wall Street analysts have mixed ratings for Exelixis, with an average target price of $44.06 and a consensus of 14 buy ratings, 8 hold ratings, and one sell rating.

Russell Investments Group Ltd. lessened its stake in Exelixis, Inc. (NASDAQ:EXEL - Free Report) by 16.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 609,123 shares of the biotechnology company's stock after selling 116,845 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Exelixis worth $22,470,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC acquired a new position in shares of Exelixis in the 4th quarter valued at $25,000. Hemington Wealth Management lifted its holdings in shares of Exelixis by 211.3% during the 1st quarter. Hemington Wealth Management now owns 769 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 522 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Exelixis by 616.9% during the 4th quarter. Colonial Trust Co SC now owns 889 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 765 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Exelixis during the 1st quarter valued at $37,000. Finally, Costello Asset Management INC acquired a new position in shares of Exelixis during the 1st quarter valued at $39,000. Institutional investors and hedge funds own 85.27% of the company's stock.

Exelixis Stock Performance

Shares of NASDAQ:EXEL traded up $0.2750 during trading on Wednesday, reaching $37.7950. The company had a trading volume of 606,670 shares, compared to its average volume of 3,051,231. The firm's fifty day moving average is $41.75 and its 200 day moving average is $39.22. The firm has a market capitalization of $10.17 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 0.78 and a beta of 0.29. Exelixis, Inc. has a twelve month low of $25.12 and a twelve month high of $49.62.

Exelixis (NASDAQ:EXEL - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The biotechnology company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. The company had revenue of $568.26 million during the quarter, compared to analyst estimates of $574.36 million. Exelixis had a net margin of 27.01% and a return on equity of 27.47%. The business's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Exelixis has set its FY 2025 guidance at EPS. Equities analysts predict that Exelixis, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXEL has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Exelixis from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. HC Wainwright cut their price objective on shares of Exelixis from $53.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Bank of America boosted their price objective on shares of Exelixis from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. JMP Securities reissued a "market outperform" rating and issued a $50.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Finally, Guggenheim reissued a "buy" rating and issued a $45.00 target price on shares of Exelixis in a research report on Tuesday, July 29th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.06.

Insider Buying and Selling at Exelixis

In other news, Director Jack L. Wyszomierski sold 7,535 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $43.09, for a total transaction of $324,683.15. Following the transaction, the director owned 358,882 shares in the company, valued at $15,464,225.38. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sue Gail Eckhardt sold 18,838 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.74, for a total transaction of $805,136.12. Following the sale, the director directly owned 21,380 shares of the company's stock, valued at approximately $913,781.20. This represents a 46.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.85% of the company's stock.

Exelixis Company Profile

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.